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Longopportunity

ETHUSD Closest bounce up support levels.Based on Dow Theory analysis and my own studying of how the bottoms are formed AND the sentiment of the r/ethtrader community (which is by far the easiest way to gauge sentiment of the majority of ETH userbase) I believe that we are nearing another local (or global) bottom, and I expect the price to shoot up at least $80+ upwards from one of these levels (they are based on Fibbonacci extension (blue dotted lines) of the latest major price move and the previous relatively strong supports in the past (green lines). Also, do not forget about the usual round numbers supports like 150, 125. Good luck and huge profits! I myself will close my short at 173.21 and open a small long and also have set up limit buy orders above all those support levels indicated in this idea. For those of you who have no position currently I'd not advise to open a short, as it's too late. Also, I will recommend all those who have a long to close that long ASAP. To those who will try to TIME the bottom in real time, I'd advise to set up limit buy orders at these levels ahead, because the market is very violent and volatile at the strong bottoms, it will be almost impossible to manually market order time to bottom.
BITFINEX:ETHUSD
by profghibli
USDCAD LONG OPPORTUNITY 4HR AND D ...MY OPINION(S)EMA Crossing on 4hr TF, but even so, I'm awaiting daily candle close confirmation near the 'Spring' area in order to move in and hopefully profit at the .50% fib. mark. Breakdown: 1. Touching Daily long-term trend Support Area & at Ascending Support; 2. Within Upward Channel 3. EMA crossing (4hr) 4. Appears to be a change in Polarity PS: If it goes past current Support (1.29615), I think it will try to head near Weekly Support of 1.25235 dated back to May 3rd, 2016 Thanks, Lakera
Long
by KeraTrader
AUD/CAD Analysis for Week 21DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Alright so to me this pair seems a bit unstable. As in there is no clear trend going on here, but sometimes on the smaller one-hour time frames we can catch some profit, but I want to make a full analysis on this pair. Weekly: Ok so since August of 2015 the price has been making higher lows, making a trendline, but not able to make higher highs. So basically making an Ascending Triangle. It's hit the support area twice already. So can we expect one more hit before a breakout? Daily: Ok so now on the Daily we can form some structure with support and resistance levels. We can see some support levels around .99670. We have three touches on that support line since April. There is also some resistance area around 1.02000 that the pari was unable to break two weeks ago. WE also see this week closed with a doji on the Daily chart. On Wednesday, Thursday and Friday we have some pretty long wicks on these daily candles but seems like the bulls may have won and were unable to keep the price closing higher. So in the end the price closed below the 1.00644 resistance level. 4hr: Ok so on the 4hr chart we can clearly see that support-turned-resistance levels at 1.00644 and we can also see some resistance levels around 1.01401, where I was actually able to profit a bit this week. So lets take a look at what could happen this coming week. Option 1: So the price could come back down, touch one of the fib retracement levels and keep that bullish trend but until 1.01401 resistance level. If we manage to break that we will have to hold out for the next support and resistance level.
Long
by EdwardFabianRamirez
Cup and Handle Formation on Wheat FuturesIn my continuing quest of using price action and TA to find opportunities in the futures markets, I search through each futures product each day to see what the weekly charts look like. When I stumbled upon Wheat Futures, I realized that Wheat was forming a perfect cup and handle pattern on the chart. This was honestly pretty sweet because it was the first time I've found such a pattern on the chart. This is usually a very bullish signal. Although I cannot trade the futures directly on my paper trading account here, I am looking at the ETF equivalent, but haven't found that one yet. Regardless of what the move does after this, it will provide a great data point when it comes to analyzing different chart patterns, such as the cup and handle. As always, when entering a trade I'll look to risk no more than 1% of my capital, and look to take profits right around the 3:1 or 4:1 risk reward ratio. All the best, RC
WLong
by BrandonBeylo
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